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Either way, the decline in labor force participation almost certainly receives too little attention.
The unemployment rate has dropped almost entirely because of this decline in labor force participation.
The decline in labor force participation is partly because baby boomers are hitting retirement age.
The policies employed to boost competitiveness threaten a further decline in labor share and rising inequality.
Figure 1 from the Bureau of Labor Statistics illustrates the decline in labor income from 1947 to 2012.
Together, newly powerful shoppers and shareholders of this supercapitalism drove a decline in labor unions and a frenzy by corporations desperate to buy some market advantage in Washington.
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The decline in the unemployment rate occurred because of a decline in labor-force participation, not because of a decline in the number of unemployed.
(The nitty-gritty result: "Our 95 percent confidence intervals allow us to reject that Medicaid causes a decline in labor-force participation of more than 4.4 percentage points, or an increase of more than 1.2 percentage points").
In 2005, the Boston Federal Reserve reported these data in an article subtitled "Declines in labor force participation for highly educated women".
Second, if house lock were an important factor, we would expect to see greater declines in labor mobility in states with more underwater mortgages, and among homeowners compared with renters.
Among large U.S. counties, Cuyahoga County, home to Cleveland, has seen one of the bigger declines in labor force participation in recent years among working-age men.
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